Union Minister Dr Jitendra Singh today said India is set to become the global hub of medical technology and devices with the market size estimated to grow up to 50 billion US dollars by 2050 from the present 11 billion US dollars. He said this while addressing the 8th CAHOTECH, Annual International Healthcare Technology Conference, organized by Consortium of Accredited Healthcare Organizations in New Delhi. The Minister said that India has emerged among the world's top five healthcare manufacturers but at a much lesser cost amidst global competition for hi-tech medical devices. He added that over the next 25 years, the government hopes to increase India’s market share to 10 to 12 percent from 1.5 percent. He said that the National Medical Device Policy 2023 and the setting up of the Export-Promotion Council for Medical Devices are aimed at making India the medical devices manufacturing hub.